Power Finance Corporation Q1 net profit falls 16%

Venkatesan R | | Updated on: Jan 09, 2018

Public Sector Undertaking Power Finance Corporation reported a Rs 1,428.59 crore net profit for the first quarter of the financial year 2017-2018. This is 16 per cent lower than the Rs 1,712.55 crore net profit reported by the company in the corresponding period of the last financial year.

This corresponds with the lower total income that fell to Rs 6,931.90 crore for the quarter under consideration. Comparably, the top line stood at Rs 7,158.66 crore during the same quarter of the last fiscal.

Non performing asset provision too grew to Rs 251.31 crore in the quarter ending June 30 of the current fiscal. Comparably, this stood at Rs 110.95 crore in the same quarter of the last financial year.

Published on August 10, 2017
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